The Latest on the Sun Coast Real Estate Market

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We've seen some extraordinary numbers in the Manatee County market this year.

The average sales price in Manatee County in October was $329,268. This is amazing! In November, the average sales price increased to $352,654. Interestingly enough, this sales price is $10,000 higher than the average sales price in Sarasota County. It's the first time I've seen that in a long time!

In October, there were 1,902 single-family homes on the market. Currently, there are 1,779 available homes. That's a 6.5% decrease in a single month. We have 3.7 months of inventory. This market favors sellers.

However, that doesn't mean it's a seller's market for everybody! If you're in the luxury market in the $1 million range, homes are on the market for an average of 200 days. The luxury market is in a slight buyer's market.

In hot markets, the majority of sales happen anywhere between 50% above or below the average sales price. That means if the average sales price is $329,000, most sales happen between the prices of $165,000 and $495,000. That is the sweet spot in the market.

Homes between $165,000 and $495,000 spend an average of 86 days on the market. There are two or three months of inventory available in this price range, which is a strong seller's market. If you price your property correctly, you will sell quickly.

What does all of this mean for buyers? Let's say you're looking for a 3 bedroom, 2 bathroom home over 2,000 square feet with a pool. If you're looking for this house in the 34209 zip code, there are 9 houses on the market that match that description. In 34202, there are 7 active properties that fit that description, and in 34219, there are 15 options. Not only is there limited supply, but you also need to act quickly, because this house is only on the market for 38 days tops!

There are limited options available now. As a buyer, you need to make decisions quickly and pay the price to get it. As a seller, the market is hot.There's not much competition on the market, so now is the time to sell!

If you have any questions, give me a call or send me an email. I look forward to hearing from you!

Why Sell a Home During the Winter?

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Selling a home? Click here for a FREE Home Price Evaluation 

A lot of people mistakenly believe that the real estate market ices over during the winter months. In fact, the colder months and the holidays aren't bad times to be selling a home if you don't mind a little extra hassle around the New Year.

A lot of people wait until the spring to sell, which is fine, but you have an opportunity to get top dollar by preparing now. All the best buyers are looking for homes right now. You want them to see your listing now.

Another reason to sell right now is that inventory is very low. Less competition for you means a faster sale for more money.

Something else to consider is that buyers right now are very serious about purchasing a home. These are usually people who have been transferred to another job, or they may have to buy a home now for tax purposes. You should cash in on these captive buyers!

If you want to jump start your home selling process, please give me a call today. We can set up a free consultation to form a plan in order to sell your home for top dollar. I look forward to hearing from you!

Ten Ways to Sell Your Sun Coast Home for Top Dollar

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 

What are the top ten ways to sell your home quickly and for top dollar? Allow me to show you them today.

1. Price your home 10-15% below the market value to draw in buyers and make them fight for your home. It sounds risky, but people like a good deal, and they'll be willing to pay extra.

2. Have half empty closets during a showing. This sounds weird, but people want to see how much space the home has, including the closets. Remove everything you can, and put the rest in storage. You're already moving, so it's probably time to be proactive and pack things away.

3. Light it up! Take the drapes down, clean the windows, remove your screens, turn on all the lights, and possibly even get brighter bulbs. People really do appreciate well-lit homes.

4. Find an agent that spends time marketing your home. In today's market it takes an online presence to get your home sold for top dollar.

5. Conceal your pets. Clean your carpets and put away anything that would indicate that you had pets in the home. You might love your pets, but your buyer may not.

6. Don't make any major remodels. When you redo your kitchen, you're not going to get the money back when you sell your home. However, there are lots of little things you can do to earn some money back. Cleaning and painting often net a lot of money back.

7. Let buyers envision themselves in your home. Remove your personal items from the walls and anything else that might distract the buyer from the features of your home.

8. The kitchen comes first. An upgraded kitchen is nice, but it depends on what you do. Focus on cabinets, knobs, the backsplash, and the countertops. You don't have to redo your entire kitchen to get a nice return on it. The old adage is true: kitchens do sell homes.

9. Always be ready to show your home. If you want to sell for top dollar, you'll have to sacrifice and become flexible for your prospective buyers. You can't sell your home if you can't show it.

10. You only get one impression, so make it count. What I'm talking about is your curb appeal. Invest in landscaping, and perhaps even have your exterior power-washed. Before buyers come into your home, they must be lured to the front door.

If you need help buying or selling your home in the Sun Coast, please don't hesitate to contact me! It would be a pleasure to help you out.

Ten Ways to Know that You've Found the Right Home

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Do you think you've found the perfect home here in the Sun Coast? In last week's video, I discussed how to make a good offer on a home, and one of those tips involved not sleeping on a good home. But how do you know that you've found the right home?

Today I have ten different pieces of advice to help you make that decision. You don't want to take too long to recognize the right home in this market or it may disappear.

1. The driveway has to draw you inside.

2. The front door should embrace you and lure you inside.

3. You feel comfortable in all of the rooms, especially in the bathroom.

4. You're already possessive about the home.

5. Can you envision your furniture in the property?

6. Can you see yourself painting the rooms?

7. Do you enjoy spending time in the neighborhood?

8. Do you want to stop looking at other homes? Are you comparing other properties to this one?

9. You cannot wait to brag to your friends about the house.

10. You want to stop looking at other homes.

Hopefully this has helped you recognize if you've found a good home in the area. You don't want to wait around too long, otherwise you will lose out on that dream home!

Please don't hesitate to contact me if you need help buying on the Sun Coast!

5 Things You Need to Do When Buying a Home

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 

Today, we'll go over the 5 do's for you to successfully buy your dream home.

1. Do get pre-approved. To be taken seriously in this market, you must have pre-approval. Don't go looking at houses until you've talked with a lender and been fully pre-approved. Sellers will not take your offer seriously without a pre-approval.
2. Do be plugged into the Internet. Zillow, Trulia, and Realtor.com are all great sources, but they're not the best. These sites only show 60% to 70% of all properties on the market. You need to be plugged in with a system that has direct ties to the MLS, like our site. You need to know when properties first come on the market, or if a price moves on a property you've been watching.
3. Do be urgent. Don't go home and sleep on it. If you're willing to do that, it might not be the right home. Buying a home is an emotional decision. Most buyers know when they walk in the door if that's the right home for them. 

4. Do make your best offer. We're dealing with a seller's market. We all know markets change, but right now we're in a seller's market. Do not make any lowball offers.
5. Do use a great agent. Don't work with someone who makes you uncomfortable, but don't just hire your friend or cousin, either. Hire a professional who has market experience. We win a lot of offers just because of our experience. The listing agent knows that we have walked our buyers through the process and trusts that we can get our buyer to the closing table.

If you have any questions about today's video, please do not hesitate to contact us. We look forward to hearing from you!

What's Happening with the Sun Coast Real Estate Market?

Buying a home? Click here to perform a full home search
Selling a home? Click here for a FREE Home Price Evaluation 

Today, we're going to discuss the market on the Sun Coast. This market is a seller's market. However, there are some big changes today versus what's happened in the past.

For instance, the Internet is huge in today's market. Back in 2005 and 2006, Zillow did not exist. The buyers have a lot of control because they have more information available to them. You can't just put your home on the market and price it however you want, because the buyers will know more about the true value of the home.

As a seller, we want to understand what the market is doing. As we go into this fall selling season, we look like we have a really strong pace. Going into spring, however, interest rates may start to rise. When that happens, the market will slow down, and you don't want to be caught in that.

If you're on the west side of Sun Coast, there's not as much new construction, and the inventory is low. If you head out east, there's competition with new construction, so the inventory is a little higher. Overall, we have about three and a half months of inventory, which puts us firmly in a seller's market. Four or five months of inventory means a balanced market, which might happen when interest rates rise.

If you have any questions, please contact us. We want to educate you on the market so you can make the best decisions possible. We look forward to hearing from you!